LPG
In line with the aspiration of the Federal Government (FG) initiative via Nigerian National Petroleum Corporation (NNPC) to develop and develop the native consumption of Liquefied Petroleum Gas (LPG), 11 Plc previously Mobil Oil Nigeria plc has made a sturdy entry within the LPG market via the launch of its LPG home gasoline in numerous shops in Lagos.
The transfer in line with the Managing Director of the corporate, Tunji Oyebanji was as a result of present capability of their sister firm NIPCO’s sturdy presence within the LPG market since they've in depth property and infrastructure throughout the numerous worth chain from storage to distribution.
He stated Nipco’s LPG operations consist of a 10,500 metric tons (MT) storage capability in Apapa, Lagos with a distribution chain comprising of 42 LPG supply vehicles with capability ranging between three and 25 tons per supply and numerous different investments on the retailing finish of the enterprise.
Oyebanji who additional strengthened steady supply of the product famous that Nipco has a technical supply settlement with Nigeria Liquefied Natural Gas (NLNG), the biggest producers of LPG within the nation, which ensures common supply.
He disclosed that 14 different websites have been open concurrently in Lagos state and it’s their goal to cowl all shops within the state earlier than transferring to begin work in different states of the federation.
In his keynote handle, NNPC ‘s Chief Operating Officer, Downstream, Henry Ikem- Obih noted that though the country’s present LPG consumption of about 5,500 MT yearly just isn't but passable, there are enormous potential for the market as a result of the World Bank statistics estimates that Nigeria’s consumption is about three.2 million tons a yr.
But in different to realize this goal, Ikem-Obih defined that a business method must be adopted in order that there can be an improve in LPG penetration, therefore the necessity for investments by the downstream sector in that route as a result of finally, there may be a lot of cash to make from LPG for everybody within the sector.
Giving a comparability of the per capita LPG consumption in some African nations, he stated in spite of being the biggest producer of the commodity within the area, its per capita is 2.3 kilograms a yr as in comparison with Morocco and Ghana whose annual per capita stands at 6.27 and 9.45 kilgrams respectively.
Stating the way in which ahead, he remarked that the ultimate funding of NLNG’s practice seven are underway in addition to makes an attempt to reactivate the Brass LNG undertaking and looking out on the OP LNG undertaking to extend Nigeria’s shares of the worldwide LPG market.
He affirmed that the company’s interim plan to spice up storage, as actions have commenced in the direction of investing and standing the LPG storage amenities at Apapa which presently stands at about four,000 metric tons in addition to double and infuse different capability to that facility.